what is the great depression?

Question

What happened in the great depression, why couldn't the government help the people out? Will we have a another great depression in the future?

Answer 1

The bottom fell out of the economy, beginning around 1929. The government did what it could, but since lots of government-aid programs are funded by taxpayers and taxpayers didn't have much money, public aid was slender. Plus, people back then were less likely to rely on government aid--more prideful, or something.

Read specifics about the Depression here: http://en.wikipedia.org/wiki/Great_Depression

As for could it happen again? Yes. Will it? No idea.

Answer 2

The government did help the people out. Roosevelt created the public works project and built bridges like the Golden Gate Bridge. They created Social Security so people would have something to fall back on if hard times struck again. You obviously know nothing about America and need to real a little more. There will never be another Great Depression education and economics are better managed now days and the government has people watching so it doesn't happen again.

Answer 3

It is not the governments job to help with stuff like that,personal opinion, it is the responsibility of the financial world. The problem is the basic premise of economy, supply and demand. Supply and demand is a flawed theory that has and will fail again. econ people have made protections to keep a cataclysmic event from happening again. However the system is fragile and is currently in such a state that cheap labor must be sot out in order to prevent the house or cards from coming down. This is why our southern border is more like a door than a wall. The government will do anything to keep itself with funding which means helping the current system survive. The system needs to be replaced with a system that is good/fair for all parties and filled with people who won't try to manipulate the system for their benefit and others detriment. Sorry I forgot to answer the question, the great depression was when the stock market was artifically boosted in sales of stocks and when people tried cashout of their stocks the companies didn't have the money/value to pay it which lead to the loss of a lot of cash money which meant those people couldn't pay their bills which meant those businesses went under and so on.

Answer 4

The Great Depression was a worldwide economic downturn, starting in 1929 (although its effects were not fully felt until late in 1930) and lasting through most of the 1930s. It centered in North America and Europe, but had damaging effects around the world. The most industrialized countries were affected the worst, including the United States, Germany, Britain, France, Canada, and Australia. Cities around the world were hit hard, especially those based on heavy industry. Construction virtually halted in many countries. Farmers and rural areas suffered as prices for crops fell by 40-60%. Mining and lumbering areas were perhaps the hardest hit because demand fell sharply and there was little alternative economic activity. The Great Depression ended at different times in different countries.

Will there be one in the future? Possibly.

Answer 5

The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.

Answer 6

All the government want is the taxes.

At the rate of this Bush administration is going, we will go into another depression.

For example, right now is the highest unemployment rate since the great depression. Bush is the first president since the Great Depression to high such a high unemployment rate.

Answer 7

The govt DID help. They created alot of public projects and even some of rich folk helped out like Rockafeller, who began construction of the Rockafeller Center in the worst times, employing several construction workers.

The depression was caused by a credit slowdown along with an industrial goods downturn, where the jobs disappeared along with the pay into a death spiral, today it would be the finance sector and a slowdown in real estate borrowing to put us back in one...If you all stop borrowing and stop racking up credit card debt, YOU will put us in a Depression...kind of ironic isn't it...so...spend!, borrow! and keep it going!!!

Answer 8

Great Depression
A period during the 1930s when there was a worldwide economic depression and mass unemployment.
The economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s.

Answer 9

There was actualy a point in time where it was worse than the great depression I forget how long ago but I looked at a finance thing about money in the 1900's and there was a point lower than thes 30s

Answer 10

Read this: http://en.wikipedia.org/wiki/Great_depression

The government (here in the States, anyway) did help some people out. It created a lot of Public Works Projects (like the Hoover Dam, for example) to create jobs.